Old West Investment Management LLC Purchases New Position in American Tower Corporation $AMT

Old West Investment Management LLC acquired a new position in shares of American Tower Corporation (NYSE:AMT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,321 shares of the real estate investment trust’s stock, valued at approximately $543,000.

Other institutional investors have also modified their holdings of the company. Riverwater Partners LLC increased its position in shares of American Tower by 3.8% during the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 56 shares during the last quarter. Triumph Capital Management increased its position in American Tower by 37.3% during the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 56 shares during the last quarter. Twin City Private Wealth LLC raised its stake in shares of American Tower by 0.7% in the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after acquiring an additional 58 shares during the period. Asset Advisory Group Inc. lifted its holdings in shares of American Tower by 3.0% in the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 60 shares during the last quarter. Finally, Argent Advisors Inc. boosted its stake in shares of American Tower by 0.9% during the 4th quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock worth $1,163,000 after purchasing an additional 61 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Stock Up 0.1%

Shares of American Tower stock opened at $175.68 on Monday. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market cap of $81.86 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 2.79 and a beta of 0.90. The firm’s 50-day moving average is $172.82 and its two-hundred day moving average is $177.93. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $1.57 by $1.14. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, research analysts expect that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were issued a $1.79 dividend. The ex-dividend date was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. American Tower’s dividend payout ratio (DPR) is currently 98.49%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several analyst reports. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target for the company in a research note on Wednesday, July 8th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $260.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Finally, TD Cowen upped their price target on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $215.14.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the transaction, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,791 shares of company stock valued at $1,204,091 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.